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Drilling Permit for Well 7324/7-2 in Production Licence 537

Source: www.gulfoilandgas.com 4/2/2014, Location: Europe

The Norwegian Petroleum Directorate (NPD) has granted OMV Norge AS a drilling permit for well 7324/7-2, cf. Section 8 of the Resource Management Regulations. Well 7324/7-2 will be drilled from the Transocean Barents drilling facility at position 73°29` 27.09" north and 24°14´ 2.56" east.

The drilling programme for well 7324/7-2 relates to the drilling of a wildcat well in production licence 537. OMV Norge AS is the operator with a 25 per cent ownership interest and the other licensees are Idemitsu Petroleum Norge AS with 20 per cent, Petoro AS with 20 per cent, Tullow Oil Norge AS with 20 per cent and Statoil Petroleum AS with 15 per cent.

The production licence consists of the blocks 7324/7 and 7324/8, and was awarded in the 20th licensing round in 2009.

Wildcat well 7324/7-2 will be the third exploration well in production licence 537.

The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

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